The jackpot for the Powerball draw on Wed Jul 2, 2025, is projected to be $174 Million, with an option for a cash payout of $79.7 Million. Should you be the lucky winner of the Powerball jackpot, anticipate the IRS to initially withhold 24% of your winnings for taxes, and be prepared that you might need to pay up to an additional 13% in federal taxes at tax time. For New York residents, the state will deduct 8.82% from your lottery earnings.
| New York Powerball Jackpot/Cash Option for Wed Jul 2, 2025 |
|---|
| Draw Date | Wed Jul 2, 2025 | | Projected Jackpot | $174,000,000 | | Cash Value | $79,700,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $79,700,000 | | Federal Tax(24%) | $19,128,000 | | Additional Federal Tax | $10,321,330 | | State Tax(8.82%) | $7,029,540 | | Net Lumpsum Payment | $43,221,130 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,618,874 |
$929,314
$230,985 |
$1,458,575 |
| 2 |
$2,749,896 |
$977,792
$242,541 |
$1,529,563 |
| 3 |
$2,887,356 |
$1,028,652
$254,665 |
$1,604,039 |
| 4 |
$3,031,776 |
$1,082,088
$267,403 |
$1,682,285 |
| 5 |
$3,183,330 |
$1,138,162
$280,770 |
$1,764,398 |
| 6 |
$3,342,540 |
$1,197,070
$294,812 |
$1,850,658 |
| 7 |
$3,509,580 |
$1,258,875
$309,545 |
$1,941,160 |
| 8 |
$3,685,146 |
$1,323,834
$325,030 |
$2,036,282 |
| 9 |
$3,869,412 |
$1,392,013
$341,282 |
$2,136,117 |
| 10 |
$4,062,900 |
$1,463,603
$358,348 |
$2,240,949 |
| 11 |
$4,265,958 |
$1,538,735
$376,257 |
$2,350,966 |
| 12 |
$4,479,282 |
$1,617,665
$395,073 |
$2,466,544 |
| 13 |
$4,703,220 |
$1,700,522
$414,824 |
$2,587,874 |
| 14 |
$4,938,468 |
$1,787,564
$435,573 |
$2,715,331 |
| 15 |
$5,185,374 |
$1,878,919
$457,350 |
$2,849,105 |
| 16 |
$5,444,634 |
$1,974,845
$480,217 |
$2,989,572 |
| 17 |
$5,716,770 |
$2,075,535
$504,219 |
$3,137,016 |
| 18 |
$6,002,652 |
$2,181,312
$529,434 |
$3,291,906 |
| 19 |
$6,302,802 |
$2,292,367
$555,907 |
$3,454,528 |
| 20 |
$6,617,916 |
$2,408,959
$583,700 |
$3,625,257 |
| 21 |
$6,948,864 |
$2,531,410
$612,890 |
$3,804,564 |
| 22 |
$7,296,342 |
$2,659,977
$643,537 |
$3,992,828 |
| 23 |
$7,661,046 |
$2,794,917
$675,704 |
$4,190,425 |
| 24 |
$8,044,194 |
$2,936,682
$709,498 |
$4,398,014 |
| 25 |
$8,446,308 |
$3,085,464
$744,964 |
$4,615,880 |
| 26 |
$8,868,780 |
$3,241,779
$782,226 |
$4,844,775 |
| 27 |
$9,312,132 |
$3,405,819
$821,330 |
$5,084,983 |
| 28 |
$9,777,756 |
$3,578,100
$862,398 |
$5,337,258 |
| 29 |
$10,266,696 |
$3,759,008
$905,523 |
$5,602,165 |
| 30 |
$10,779,996 |
$3,948,929
$950,796 |
$5,880,271 |
|
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